Quick Take
Judge pauses SEC vs Coinbase lawsuit.
LaChain joins the Elastic Chain Network.
Coinbase Wallet bank-to-USDC transfers.
DEX volume hits 20% marketshare over CEXs.
Listen on: Apple | Spotify | Castbox | YouTube
Judge Halts SEC Lawsuit Against Coinbase
U.S. District Court Judge Katherine Polk Failla granted Coinbase's request for certification of an interlocutory appeal in its lawsuit with the SEC. The decision allows Coinbase to appeal a critical legal ruling while temporarily pausing further proceedings in the case. Judge Failla acknowledged the conflicting rulings regarding the SEC's application of securities laws to crypto-assets. The Second Circuit Court of Appeals will now review whether the crypto-assets at the center of the case meet the definition of "investment contracts" under securities law. The SEC filed the lawsuit in June 2023, alleging that Coinbase operated as an unregistered securities exchange, broker, and clearing agency.
LaChain Joins Elastic Chain Network
LaChain, a blockchain designed to meet the needs of Latin American users, has joined ZKsync’s Elastic Chain Network. The upgrade to ZK Stack was driven by the network’s speed, low transaction costs, and developer tools. LaChain is developed by Ripio, a crypto payments platform in LATAM with over 19 million users. By joining the Elastic Chain Network, LaChain becomes part of a growing ecosystem alongside 12 other chains, including Zero Network, Lens Network, and Abstract. The integration enables LaChain projects to seamlessly connect and interact with other blockchains within the Elastic Network, fostering interoperability.
Coinbase Wallet Supports Bank Deposits
Coinbase Wallet, Coinbase's non-custodial wallet, introduced support for receiving bank deposits directly into USDC on Base. In November 2024, Coinbase Wallet rolled out support for USDC rewards for USDC held on its non-custodial wallet across Base, Ethereum, Arbitrum, Avalanche, Polygon, and Optimism. Coinbase Wallet also offers zero-fee USDC transfers on Base. USDC is the second-largest stablecoin by market cap and the largest natively minted asset on Base.
DEX Trading Volume Hits 20% Market Share
For the first time, the total spot trading volume on decentralized exchanges has reached an all-time high in market share of 20% of spot trading volume compared to centralized exchanges. Uniswap leads the DEX market, capturing 12.2% of the total trading volume in the last 24hrs.
Other News
Balancer v3 Priority Fee Router
Illuvium partners with Virtuals
